Financial Conditions (October 2011)
PRESS RELEASE Release Date: November 25, 2011
Financial Conditions (October 2011)
Monetary Aggregates For the month of October 2011, the monthly growth rate of the monetary aggregates M1B, measured on a daily average basis, was -0.87%, lower than that of last month. The monthly growth rate of the monetary aggregates M2, measured on a daily average basis, was 0.36%, higher than that of last month. This was mainly caused by the flow of funds from demand deposits to time and savings deposits. The annual growth rates of M1B and M2 declined to 5.12% and 5.54%, respectively. This was mainly due to the slowing growth in bank loans and investments. For the first ten months of this year, the average annual growth rates of M1B and M2 were 7.84% and 5.94%, respectively.
Direct and Indirect Finance At the end of October, the monthly growth rate of total outstanding loans and investments (measured on a cost basis) of major financial institutions was 0.23%, lower than that of the previous month. Meanwhile, the annual growth rate declined from 7.94% at the end of the previous month to 7.41%. The decline was mainly due to the slowing growth in bank claims on government enterprises and the private sector. If (1) loans and investments extended by life insurance companies, (2) non-accrual loans reclassified and bad loans written off by major financial institutions, and (3) funds raised directly from capital markets were all taken into account, the total outstanding amount of funds raised by the non-financial sector would show an annual growth rate of 5.88%, lower than the 6.22% at the end of the previous month.
Notes: 1. The upcoming Financial Conditions (November 2011) is scheduled for release at 16:20 on December 26, 2011.
2. For the release schedule for the next six months, please check the CBC website at
http://www.cbc.gov.tw/ct.asp?xItem=30164&ctNode=515&mp=2 .